Shallow Copper-Gold Discovery Grows to 700m Strike Extent and Remains Open in All Directions Extensional and in-fill drilling continues to gather momentum with new shallow, wide intercepts including narrower zones of high-grade copper-gold-silver mineralisation
Highlights➢New assay results and recently completed diamond drillholes demonstrate growing scale and potential of the shallow copper-gold discovery at Thursday’s Gossan.➢Diamond drillhole
SMD060, located 120m south-east of discovery hole SMD050,returns high-grade assay results within a very broad mineralised envelope of 102.3mat 0.68% copper including:o48.2m at 1.04%copper, 0.31g/t gold and 14g/t silverfrom74m down-hole,including:▪12m at 1.55% copper, 0.63g/t gold and 13g/t silver from 74m down-hole, and including:6.10m at 3.55% copper, 0.73g/t gold and 41g/t silver from 129m down-hole and associated with minor lead (~0.1%Pb) and zinc (~0.2%Zn) mineralisation.
SMD060 also intercepted significant nickel-cobalt mineralisation within the copper-gold mineralised zone with:2.4m at 1.20% nickel and 0.08% cobalt from 116.6m down-hole.➢Visual observations of mineralisation in SMD067, located 670m north-west of the south-eastern-most mineralised drill hole, has extended the mineralisation on the UCF structure to ~700m strike extent with the mineralised zone open in all directions.➢Diamond drill hole SMD059, located 40m behind (down-dip) of drill hole SMD051,intersected two zones of significant mineralisation including:5m at 3.28% copper, 0.27g/t gold and 13g/t silver from 197m down-hole,o18m at 1.00% copper, 0.1g/t gold and 3g/t silver from 235m down-hole, including:▪6.8m at 1.85% copper, 0.17g/t gold and6g/t silver from 245.8m.➢The mineralisation in SMD059 is affected by significant intervals of post-mineral dacite dykes displacing zones that were likely copper-gold mineralised prior to the dacite intrusion.
Diamond drill hole SMD055, drilled 40mdown-dip of the discovery hole SMD050, was abandoned just before the target zone as the core barrel broke and could not be recovered. However, the hole did return the following shallow intercepts:o5m at 1.00% copper, 0.32g/t gold and 7g/t silver from 24m down-hole; ando5m at 1.37% copper, 0.17g/t gold and 8g/t silver from 78m down-hole.
Three diamond drill rigs and one sonic rig are on-site in the Stavely Project in Western Victoria while one diamond drill rig is operating at the Mathinna Project in Tasmania.
SVY Price at posting:
95.0¢ Sentiment: Hold Disclosure: Held
